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发帖数: 678 | 1 Mutual funds in China cut their recommended equity weightings to 84.8% from
a record high in October while raising allocations to cash and bonds, as
expectations of inflation and further monetary tightening reduce risk
appetite, a monthly Reuters poll of fund managers showed.
Suggested equity weightings over the next three months fell from 88.9% last
month, while recommended allocations for bonds rose to 3.2% from a record
low of 2.4% in October, the poll of nine China-based funds showed. Suggested
cash weightings rose to 12% from 8.7%, the poll showed.
Six fund managers surveyed cited inflation and monetary tightening as the
biggest risks, with one manager saying: "Inflation is likely to invite
further monetary tightening, which will reduce market liquidity and hurt the
stock market."
China's stock market slumped in November after October's 12% rise, with
previously bullish commodity-related stocks turning bearish. The poll showed
that fund managers are shifting their preferences back to hi-tech and
consumer-related stocks.
Fund managers expected the benchmark Shanghai Composite Index to trade
between 2,800 and 3,200 points in the next three months, lower than the
previous poll's range of 2,900 to 3,500 points.
The main index tumbled 3% to 2,778.9 points in morning trade on Tuesday.
Within an equities portfolio, the suggested weightings for consumer stocks
were raised from last month's 22.7% to 32.6%, the highest level seen since
the poll started in 2007.
In comparison, fund managers avoided financials and property stocks, cutting
the suggested weighting to the financial services sector to 9.8%, the
lowest level on record. |
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